Ind. Code § 5-1-14-8
This is the official text of Ind. Code § 5-1-14-8, part of Indiana’s Code — part of the compiled statutory law of Indiana, published by the state as "Code." Browse the sections below, each linked to its official government source.
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Money withheld by state comptroller as not creating debt for constitutional purposes
Official statutory text
Sec. 8. If a statute provides that amounts due under a loan to a political subdivision (as defined in IC 36-1-2) or a local public improvement bond bank shall or may be withheld by the state comptroller from other money payable to the political subdivision or bond bank upon failure to make repayment of the loan, the requirement or permission to withhold amounts due under the loan does not create a debt of the political subdivision for purposes of the Constitution of the State of Indiana.
As added by P.L.2-1989, SEC.6. Amended by P.L.9-2024, SEC.112.
As added by P.L.2-1989, SEC.6. Amended by P.L.9-2024, SEC.112.
Status: in_force · Read it on the official government site
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